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Consider selling from 1.2579 to 1.2460

Consider selling from 1.2579 to 1.2460 | 27 January 2017

27 January 2017, GBP/USD

Daily chart: for this moment we have a downside correction towards middle Bollinger band (1.2341). There is likely to occur starting from middle band rebound towards 1.2646 (upper Bollinger band)

Consider selling from 1.2579 to 1.2460

Н4: intermediate support level is in lower Bollinger band region (1.2460). ADX/RSI are correcting, that's why intermediate support is very hard to overcome today. If it stands, we are likely to see rollback to 1.2579 (middle Bollinger band)

Consider selling from 1.2579 to 1.2460

Н1: locally we are observing breakout of lower Bollinger envelope. Given this set-up consider selling from middle Bollinger band (1.2579). The target is 1.2460

Consider selling from 1.2579 to 1.2460

Expectations: the pair is expected to touch 1.2579 and later decline towards 1.2460

Solutions: consider selling from 1.2579 to 1.2460

Aleksey Panasenko
FreshForex Analyst
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